Understanding our Impact and Accelerator Grants
Philanthropic Philosophy
Accelerator Grant
Trust-based, partnership relationship that focuses on achieving more of a balance of power between the grantee and grantor. Relationship is somewhat informal, and is built on transparency, communication and trust.
Impact Grant
Grantor and grantee work collaboratively to support the grantee’s work
Time and amount of grant
Accelerator Grant
Three consecutive years, $25k for each of the three years, total of $75,000
Impact Grant
One-time, $100k for winner and $50k for each of the two runners up (historically).
Number of Grantees
Accelerator Grant
One grant
Impact Grant
Three – one winner and two runners-up
Use of Grant
Accelerator Grant
Unrestricted, which means the grantee determines how to use the funds. Could be overhead or indirect costs, for example. Object is for grantee to have the flexibility to adapt to changed conditions its needs; the grantee knows better than the grantor how they can best use the grant. Grantee is trusted to make wise, impactful decisions.
Impact Grant
During the site visit by Grant team members, the grantee provides information as to how they intend to use the grant, which they can change, if necessary.
Form of Application
Accelerator Grant
Short and simple to avoid imposing burden on applicants, asking only those questions that are necessary to evaluate the applicants. Grantor will have done due diligence and familiarized itself with most applicants beforehand.
Impact Grant
Grants Committee first learns about applicants through the application that it submits. Financial reporting for the RFP is limited and only the site visit candidates are asked to provide more detailed financial information.
Applicant Pool
Accelerator Grant
Potential grantees identified primarily by grantor after researching promising nonprofits in chosen focus area; grantor issues invitations to apply. Others may also apply. Expect less than ten applications.
Impact Grant
Applicants respond to published RFP, that is also somewhat publicized. Typically, there are more than 70 applications.
Eligibility Criteria
Accelerator Grant
Annual operating budget must be between $100k and $499,999k; in operation at least three years. Able to provide budget for at least one year and Form 990’s for two years. Tax-exempt under 501(c)(3).
Impact Grant
Annual operating expenses must be between $500k and $2.5 million. High level financial information required as part of the RFP, with those selected for a site visit to provide Form 990’s for two years and current operating budget. Tax-exempt under 501(c)(3).
Selection Process
Accelerator Grant
After reviewing applications and site visit reports, the Accelerator Grant Selection Committee identifies its recommended grantee from among the candidates. The Selection Committee becomes very familiar with the candidates and consistent with trust-based principles, it is appropriate to have the Selection Committee identify the nonprofit they believe is the best grantee. The Committee’s choice is subject to a vote of approval or disapproval by the full membership. Before the vote, the membership is provided with a report on the candidate, but no video.
Impact Grant
The Grants Committee reviews applications and makes site visits preparatory to choose three candidates. Once three candidates are identified, they are submitted to the full membership for election of a winner. The two runners-up each receive a grant. To aid the membership in its decision, each candidate is asked to prepare a video and the committee prepares a short written summary.
Post-selection
Accelerator Grant
It is anticipated that Impact100 Metro Denver will support the grantee in additional ways during the three-year grant term. Impact100 will monitor the grantee only to assure that it continues to meet certain of the eligibility criteria (501(c)(3) status, for example. The expectations of both parties are discussed and agreed upon.
Impact Grant
Impact100 Metro Denver may offer additional support, but it is not expected. The grantee provides some reporting regarding information as to how the grant is being utilized.